Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h —

Price spread now: Bybit against Reya−0.018%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AAVERUSDPERP	144.25	0.0044	pay 0.0006% / 1h	36m 21s	—	—	20x
Short	Bybit AAVEUSDT	144.22	0.0100	get 0.0100% / 8h	2h 36m	$61.4M	$65.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Reya. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ReyabpFee BybitbpOrdersPrice spread, now −0.018%Rate

Funding earned: $11.73
Price spread: −0.018% → 0.000%: −$1.78
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$7.05
Costs to cover: 0.170%
Break-even: 11.2 days

Slippage unknown: Reya: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Reya no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	0.35 bp	9.8 bp −$10	18.2 bp −$182	62.4 bp −$6,238	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AAVE on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit AAVE_USDC-PERPETUAL	−0.0235%	1h	144.17	−0.052%	$248K	$483K	50x	as long as short
SoDEX AAVE-USD	−0.0201%	1h	144.10	−0.101%	$5K	$299K	10x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	144.11	−0.094%	$11K	$2K	5x	as long as short
Phoenix AAVE	−0.0044%	1h	144.78	+0.370%	$4K	$101K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	144.13	−0.081%	$103K	$5K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	144.12	−0.087%	$70K	$1.6M	3.4x	as long as short
ApeX Omni AAVEUSDT	+0.0001%	1h	144.66	+0.287%	$134K	$229K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	144.31	+0.043%	$70K	—	150x	as long as short
Kraken Futures PF_AAVEUSD	+0.0012%	1h	144.28	+0.022%	$3.4M	$2.1M	50x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.051%	$422	$51K	12x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERPlong	+0.0044%	1h	144.25	long leg	—	—	20x
Gate AAVE_USDT	+0.0051%	8h	144.20	−0.032%	$7.7M	$15.7M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0051%	8h	144.17	−0.052%	$17.5M	$65.6M	50x	as long as short
Orderly PERP_AAVE_USDC	+0.0055%	8h	144.16	−0.059%	$18K	$12K	10x	as long as short
Binance AAVEUSDT	+0.0069%	8h	144.27	+0.015%	$65.7M	$183.1M	75x	as long as short
MEXC AAVE_USDT	+0.0069%	8h	144.22	−0.018%	$31.8M	$26.1M	200x	as long as short
GRVT AAVE_USDT_Perp	+0.0095%	8h	144.67	+0.295%	$459K	$4.0M	10x	as long as short
Lighter AAVE	+0.0096%	1h	144.29	+0.031%	$4.6M	$1.6M	10x	as long as short
Aevo AAVE-PERP	+0.0096%	1h	144.18	−0.046%	$122K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0097%	1h	144.17	−0.056%	$179K	$241K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	144.09	−0.106%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	144.20	−0.032%	$800K	$444K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	144.33	+0.058%	$80.1M	$32.9M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	144.05	−0.138%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	144.09	−0.108%	$328K	$505K	10x	as long as short
Bybit AAVEUSDTshort	+0.0100%	8h	144.22	−0.018%	$61.4M	$65.4M	75x
Arcus AAVE-USD	+0.0100%	1h	144.11	−0.094%	$50K	$274K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	144.61	+0.256%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	144.22	−0.018%	$10.3M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	144.20	−0.032%	$30.0M	$18.2M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	144.30	+0.038%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	144.29	+0.031%	$379K	$701K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	144.70	+0.312%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	144.12	−0.089%	$100K	$313K	20x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	144.28	+0.024%	$126K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	144.13	−0.081%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	144.29	+0.033%	$728K	$4.9M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	144.16	−0.059%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	144.08	−0.117%	$928K	$1.8M	50x	as long as short
BloFin AAVE-USDT	+0.0190%	8h	144.11	−0.094%	$3.5M	$5.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0248%	1h	144.38	+0.093%	$777K	$3.0M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0266% / S −0.0438%	1h	144.33	+0.061%	$124K	—	100x	as long as short